HC Wainwright Reiterates “Buy” Rating for Arbutus Biopharma (NASDAQ:ABUS)

HC Wainwright restated their buy rating on shares of Arbutus Biopharma (NASDAQ:ABUS) in a report published on Monday morning,Benzinga reports. HC Wainwright currently has a $5.00 target price on the biopharmaceutical company’s stock.

Several other analysts have also weighed in on ABUS. Jefferies Financial Group raised their price objective on shares of Arbutus Biopharma from $5.00 to $7.00 and gave the stock a “buy” rating in a report on Thursday, September 5th. StockNews.com raised shares of Arbutus Biopharma from a “sell” rating to a “hold” rating in a research note on Saturday, August 10th. Chardan Capital raised their price objective on shares of Arbutus Biopharma from $4.00 to $4.50 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Finally, JMP Securities lifted their price target on shares of Arbutus Biopharma to $5.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $5.50.

Arbutus Biopharma Trading Up 0.6 %

NASDAQ ABUS opened at $3.46 on Monday. The firm has a market cap of $655.64 million, a price-to-earnings ratio of -8.00 and a beta of 1.92. The company has a 50 day moving average of $3.92 and a 200-day moving average of $3.64. Arbutus Biopharma has a 1-year low of $1.79 and a 1-year high of $4.72.

Institutional Investors Weigh In On Arbutus Biopharma

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rubric Capital Management LP acquired a new position in Arbutus Biopharma in the 2nd quarter valued at about $5,195,000. Kennedy Capital Management LLC lifted its holdings in shares of Arbutus Biopharma by 12.7% during the 1st quarter. Kennedy Capital Management LLC now owns 436,506 shares of the biopharmaceutical company’s stock worth $1,126,000 after acquiring an additional 49,265 shares during the period. Walleye Trading LLC bought a new stake in shares of Arbutus Biopharma during the 1st quarter worth approximately $36,000. Creative Planning lifted its holdings in shares of Arbutus Biopharma by 13.8% during the 3rd quarter. Creative Planning now owns 49,500 shares of the biopharmaceutical company’s stock worth $191,000 after acquiring an additional 5,989 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its position in Arbutus Biopharma by 22.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,388 shares of the biopharmaceutical company’s stock worth $94,000 after purchasing an additional 6,649 shares in the last quarter. 43.79% of the stock is currently owned by institutional investors and hedge funds.

Arbutus Biopharma Company Profile

Arbutus Biopharma Corporation, a biopharmaceutical company, develops novel therapeutics for chronic Hepatitis B virus (HBV) infection in the United States. Its HBV product pipeline consists of imdusiran (AB-729), a proprietary subcutaneously-delivered RNAi therapeutic product candidate that suppresses all HBV antigens, including HBsAg expression.